Belden’s (BDC) Buy Rating Reiterated at Benchmark

Belden (NYSE:BDC)‘s stock had its “buy” rating reissued by investment analysts at Benchmark in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $130.00 price target on the industrial products company’s stock. Benchmark’s target price would suggest a potential upside of 7.48% from the company’s previous close.

Several other research firms also recently issued reports on BDC. StockNews.com upgraded Belden from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 16th. Truist Financial raised their price target on shares of Belden from $124.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Belden presently has a consensus rating of “Buy” and a consensus price target of $122.75.

Belden Stock Down 0.9 %

BDC stock opened at $120.96 on Friday. The business’s 50 day simple moving average is $118.38 and its 200 day simple moving average is $111.22. Belden has a 1-year low of $72.91 and a 1-year high of $131.82. The firm has a market capitalization of $4.88 billion, a PE ratio of 28.13 and a beta of 1.09. The company has a current ratio of 2.07, a quick ratio of 1.43 and a debt-to-equity ratio of 0.99.

Belden (NYSE:BDC) last posted its earnings results on Thursday, October 31st. The industrial products company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.09. The company had revenue of $654.90 million during the quarter, compared to analysts’ expectations of $643.63 million. Belden had a net margin of 7.61% and a return on equity of 20.55%. Belden’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.78 EPS. As a group, research analysts anticipate that Belden will post 6.12 EPS for the current year.

Insider Buying and Selling

In other Belden news, CAO Doug Zink sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $128.82, for a total transaction of $386,460.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,643 shares in the company, valued at $855,751.26. The trade was a 31.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.59% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Belden

A number of institutional investors have recently modified their holdings of the business. Matrix Trust Co bought a new position in Belden in the third quarter valued at about $25,000. GAMMA Investing LLC grew its holdings in shares of Belden by 72.2% during the 3rd quarter. GAMMA Investing LLC now owns 279 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 117 shares during the last quarter. Prospera Private Wealth LLC bought a new position in Belden in the 3rd quarter valued at approximately $33,000. First Horizon Advisors Inc. grew its stake in shares of Belden by 97.7% during the third quarter. First Horizon Advisors Inc. now owns 423 shares of the industrial products company’s stock worth $50,000 after buying an additional 209 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Belden by 27.8% during the third quarter. KBC Group NV now owns 1,261 shares of the industrial products company’s stock worth $148,000 after buying an additional 274 shares in the last quarter. Institutional investors and hedge funds own 98.75% of the company’s stock.

Belden Company Profile

Belden Inc designs, manufactures, and markets a portfolio of signal transmission solutions for mission critical applications in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. It operates in two segments, Enterprise Solutions and Industrial Automation Solutions. The Enterprise Solutions segment offers copper cable and connectivity solutions, fiber cable and connectivity solutions, interconnect panels, racks and enclosures, and signal extension and matrix switching systems for use in applications, such as local area networks, data centers, access control, 5G, fiber to the home, and building automation.